Total Compensation: The Surprising Value of UVM Benefits
UVM employment provides an impressive array of benefits that make wages and salaries only part of the total compensation picture. Depending on the choices we make, our benefits enhance compensation substantially.
The University offers these benefits and pays the lion’s share to attract and retain a fine faculty and staff. Many individuals chose to work at UVM because specific benefits are extremely important to them. Tuition remission, the retirement savings plan, and the health insurance plan are especially notable.
Depending on the benefit choices each person makes, additional costs are paid for by the University or shared with the individual:
- Social Security and Medicare taxes are shared 50-50 by law.
- State unemployment and workers’ compensation are paid for by UVM.
- Medical coverage is paid for largely by the University, and the premium paid by the employee is based on a percentage of salary.
- Dental, life, and long-term disability insurance are shared expenses depending on the choices made by the person.
- Tuition remission is paid for by UVM.
Take a closer look at benefits and the costs associated with them viewing three different illustrations of individuals’ total compensation packages.
Considering the value of UVM’s benefits, it makes good sense to maximize your own benefits package and increase your total compensation. Feel free to consult the Benefits staff at any time to make sure your own benefits work hard for you.
Last modified November 05 2015 11:07 AM